Goals for public debt, fiscal gap at risk: BMI

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THE national government may fall short of its aims to pare down the country’s public debt and narrow the fiscal deficit due to the expected increase in its budget, according to a United Kingdom-based research firm.

BMI said their expectations pegged domestic demand to grow 6.3 percent next year on account of higher private consumption brought about by lower interest rates.

However, this could cost 1 percentage points worth of spending cuts, making it challenging for the government to attain its economic growth agenda.“We forecast the budget shortfall to average 4.6 percent over the same period.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesUnited KingdomUnited States

Topics: Year Inflation Budget Expected Fiscal Revenue Collection Public Government Deficit Percent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 16:24:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 972 words

Reading Time: 6 minutes read

Sentences: 35 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22866173

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 51 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 10 hours ago

Coverage Areas: Philippines

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Publication Timezone: GMT +8:00

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Publisher ID: #37

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